Distressed-debt specialist firm, REDD Intelligence, has warned that beleaguered infrastructure financier, IL&FS, will require equity infusion of up to Rs 300 billion to get back on the rails. It will also have to take an impairment of at least Rs 150 billion before recovering a single rupee from its subsidiaries, the firm said. “The required…
Major relief for common man as fuel prices come down by Rs 2.50 a litre
The government on Thursday announced an excise duty cut of Rs 1.50 a litre for petrol and diesel. Additionally, oil companies are to be asked to absorb another Re 1 per litre. Together, these price reductions would add up to Rs 2.50 a litre — a significant relief at a time when rising fuel prices…
Air India to fly 423-seater Boeing 747 to meet festive rush
To meet the festive rush starting from Dussehra and continuing till Diwali, Air India will fly its 423-seater classic double decker jumbo, the Boeing 747, on the Mumbai-Delhi and Kolkata domestic routes.
ONGC in no hurry to sell stakes in IOC, GAIL
State-owned Oil and Natural Gas Corporation (ONGC) is not in a hurry to sell its stake in Indian Oil Corp and GAIL (India) and will wait for the right price before offloading the shares, a senior company official said.
ONGC Videsh settles dispute with Rosneft over Sakhalin project
ONGC Videsh Ltd and its partners in Russia’s Sakhalin-1 project have agreed to pay Russian giant Rosneft $230 million to settle an oil production dispute out-of-court, its managing director N. K. Verma has said.
Air chief hails Rafale deal, silent on price
Air Chief Marshal B.S. Dhanoa on Wednesday termed as a “game-changer” the Narendra Modi government’s decision to buy 36 Rafale fighter jets from France, but refused to disclose their price.
Rafale, S-400 deals are like a booster dose to IAF: Air Chief Marshal Dhanoa
Acquisition of the French Rafale fighter aircraft and the Russian S-400 air defence system would go a long way in addressing the depleting squadron strength of the Indian Air Force (IAF), Air Chief Marshal Birender Singh Dhanoa said on Wednesday.
Air India to launch six new flights
Air India will launch six new flights this month to New York, Frankfurt, London, Bangkok and Jaipur as part of its plans to better utilise its aircraft, some of which have been lying idle for the past several months due to lack of funds for their maintenance.
Infrastructure in place with eye on Cup
The civic body appears to have understood that implementation of a scheme and its proper maintenance should go hand in hand to make a project successful.
IL&FS bailout could be expensive for some
New Delhi/Mumbai: The Union government’s move to take control of debt-laden Infrastructure Leasing & Financial Services (IL&FS) will succeed only if lenders agree to take substantial losses, government sources familiar with the discussions told Reuters.